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well, the fiscal cliff now. republicans are proposing a brand new plan to prevent the so-called falling off of that cliff. the automatic tax hikes and spending cuts that are set to kick in on the first of the year. the proposal counters one from the white house which republics deemed a joke. the g.o.p. plan would at least for now extend the bush era tax cuts including those cuts for the wealthiest americans it proposes raising $800 billion from tax reform over the course of the decade. and includes more than a trillion dollars in spending cuts. but monday none of them he really detailed. in addition the plan called for changes to the so-called entitlement programs, increasing the eligibility age for medicare and lowering the annual cost of living hikes for social security hikes. flu our -- put theirs on the table and dared republicans to do the same. >> they have done that tonight. the officials saying that the counter offer is ridiculous. they are hammering the fact that there is not enough in terms of tax reve
well, the fiscal cliff now. republicans are proposing a brand new plan to prevent the so-called falling off of that cliff. the automatic tax hikes and spending cuts that are set to kick in on the first of the year. the proposal counters one from the white house which republics deemed a joke. the g.o.p. plan would at least for now extend the bush era tax cuts including those cuts for the wealthiest americans it proposes raising $800 billion from tax reform over the course of the decade. and...
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until they fix the fiscal cliff. at least let's fix the fiscal cliff and make sure that american families aren't faced with possible larger tax bills come january. >> wouldn't it just make you feel better if you didn't feel the real reason we'll get a fiscal cliff resolution, whether it's a little tinkering or something bigger, wasn't because they actually wanted to be home on christmas? >> i think that they absolutely should try to get this done. i certainly don't think they should go home before the situation is resolved. but i also think that when you are looking at what kind of congress we want, we want a responsive congress. we want a congress rooted in american communities, not inside the beltway. >> look, you just want mondays and fridays off, too, and your trying to make the argument to the national review as to why that is better. >> americans want their leaders to work, period. >> thanks to both of you. we appreciate it. of course, we want all your feedback. >>> next, the billionaire software tycoon john mc
until they fix the fiscal cliff. at least let's fix the fiscal cliff and make sure that american families aren't faced with possible larger tax bills come january. >> wouldn't it just make you feel better if you didn't feel the real reason we'll get a fiscal cliff resolution, whether it's a little tinkering or something bigger, wasn't because they actually wanted to be home on christmas? >> i think that they absolutely should try to get this done. i certainly don't think they should...
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say democrats on capitol hill vote for including the spending cuts in this deal to avoid the fiscal cliff. that is not what they are doing now. should they include those? >> yes. i think that, and i know that democrats accept that this has to be it, a balanced package, that includes revenues and cuts and spending cuts. >> months ago, the budget carney held up was voted down by the entire senate. 99-0. meaning no democratic support. earlier, dick durbin insisted spending cuts from entitlement reform will not be part of the talks while pelosi spell noncommittal whether the cuts will be in the deal. still, the administration is trying to breathe life to the talks, with vice president biden shopping at new costco in washington, picking up a big screen tv and apple pie and insisting he is optimistic of a deal. >> i am. i am. all the folks in the store, man. going to make a difference. >> carney shot down a politico report that a phone call last night between boehner and the president was curt, noting it was 28 minutes long and productive. signaling the president is flexible on taxes not being
say democrats on capitol hill vote for including the spending cuts in this deal to avoid the fiscal cliff. that is not what they are doing now. should they include those? >> yes. i think that, and i know that democrats accept that this has to be it, a balanced package, that includes revenues and cuts and spending cuts. >> months ago, the budget carney held up was voted down by the entire senate. 99-0. meaning no democratic support. earlier, dick durbin insisted spending cuts from...
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the republicans and democrats alike designed the fiscal cliff. it's a series of bipartisan compromises and i think it's kind of foolish to think that this group of congressmen and senators is going to come up with a way out of something they themselves designed. >> rich, you worked for a republican speaker who went up against a democratic president over the spending issues. back then the face-off didn't turn out all that well for your party. obviously very difficult era. do you agree with eric's take? is the right strategy for republicans to stick to their guns, forget about compromise? >> no. i really don't -- eric is one of my favorite people. we talk a lot. but i think that, and i did work for the speaker gingrich during the shut-down fight in '96, and it did not work out well for republicans. the president has a much bigger bully pulpit than the speaker does. newt gingrich's bully pulpit was pretty big back in those days but at some point, republicans in the house -- and i think boehner is trying to look for ways to do this, speaker boehner,
the republicans and democrats alike designed the fiscal cliff. it's a series of bipartisan compromises and i think it's kind of foolish to think that this group of congressmen and senators is going to come up with a way out of something they themselves designed. >> rich, you worked for a republican speaker who went up against a democratic president over the spending issues. back then the face-off didn't turn out all that well for your party. obviously very difficult era. do you agree with...
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and tax issues on the table and the so-called cliff, fiscal cliff, he also wants to deal with raising the debt ceiling which caused so much controversy a year and a half ago. take a listen to the president today. >> if congress in any way suggests they are going to tie negotiations to debt ceiling votes, and take us to the brink of default once again, as part of a budget negotiation which by the way we have never done in our history until we did it last year, i will not play that game. >> now, republics may not want to include the debt ceiling extension lifting that ceiling in these negotiations because the ceiling doesn't need to be lifted for a couple more months. if they come back next year and deal with that part of this, they might have more leverage as we get closer and closer to that deadline to force the president into more spending cuts than he wants right now, harris. >> harris: well, editor all those americans wondering and watching rights now, 27 days, how close are we. we heard the speaker say he is waiting to hear back from the white house. i would think that would be in
and tax issues on the table and the so-called cliff, fiscal cliff, he also wants to deal with raising the debt ceiling which caused so much controversy a year and a half ago. take a listen to the president today. >> if congress in any way suggests they are going to tie negotiations to debt ceiling votes, and take us to the brink of default once again, as part of a budget negotiation which by the way we have never done in our history until we did it last year, i will not play that game....
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we are less than a month from going over the fiscal cliff and the term economists call the series of spending cuts and expiring tax breaks that will take effect the first of the year. that could cost millions of jobs and lead to a new recession. it is basically austerity on steroids. republicans with their counteroffer today again reject the president's plan if higher taxes on families earning more than $250,000 a year. wendell is live at the white house. if they reject that i don't know how far this will go. the president could blink but his eyes seem wide open. >>reporter: it is a nonstarter if they reject continuing the upper income tax cuts. the republicans say the plan cuts the deficits by $4.6 trillion based on the white house method of counting based on the recommendations of the president's deficit reduction commission but the president could disagree. the republicans say the plan would raise $800 million through tax reform but not by phasing out the upper income bush tax cuts and before the plan was announced, white house press secretary insisted the rates will not make it t
we are less than a month from going over the fiscal cliff and the term economists call the series of spending cuts and expiring tax breaks that will take effect the first of the year. that could cost millions of jobs and lead to a new recession. it is basically austerity on steroids. republicans with their counteroffer today again reject the president's plan if higher taxes on families earning more than $250,000 a year. wendell is live at the white house. if they reject that i don't know how...
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. >> soledad, the fiscal cliff debacle, with 28 days remaining before drastic tax hikes and spending cuts take effect, a republican spending plan has been rejected by the white house. brianna keilar is live from washington. what now, brianna? >> well, right now it's about the pressure building and the clock kicking, zoraida. as house republicans in the white house try to ultimately broker a deal between two very different plans. house speaker john boehner's counteroffer, if you take a look at the headlines from this $800 billion in what would be savings from tax reform. so that is new tax revenue. but not done by increasing income tax rate on the wealthiest. but instead by closing tax loopholes, eliminating tax credits. and also $600 billion in health savings. that's what you'd get from entitlement reform. from reforming medicare, and doing some cuts there under this plan. but compare it to the white house plan, very different than what's on the table there. $1.6 trillion in new taxes. that is two times the amount in the boehner plan, and also, of course, includes increasing those in
. >> soledad, the fiscal cliff debacle, with 28 days remaining before drastic tax hikes and spending cuts take effect, a republican spending plan has been rejected by the white house. brianna keilar is live from washington. what now, brianna? >> well, right now it's about the pressure building and the clock kicking, zoraida. as house republicans in the white house try to ultimately broker a deal between two very different plans. house speaker john boehner's counteroffer, if you take...
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. >>> as each day ticks by, the nation edges closer to going over the fiscal cliff. democrats and republicans cannot agree how to raise revenue and cut spending. on january 1st, as many of you know, taxes go up and doeep spending cuts take effect. the sunday talk shows reflect how far apart they are what we will not do is extend those tax cut force the wealthiest americans. there's no possibility that we will find a way to get our fiscal house in order without those tax rates going back up. >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making a concession to put revenues on the table. it's unfortunate that the white house has spent three weeks doing basically nothing. >> speaker boehner added he is flabbergasted by the administration's proposals while secretary geithner said he believes a deal can be reached by the end of the year. >>> we could find out this morning if the supreme court will take up the issue of same-sex marriage. at 9:30 eastern, the court releases its orders list. there's a possibili
. >>> as each day ticks by, the nation edges closer to going over the fiscal cliff. democrats and republicans cannot agree how to raise revenue and cut spending. on january 1st, as many of you know, taxes go up and doeep spending cuts take effect. the sunday talk shows reflect how far apart they are what we will not do is extend those tax cut force the wealthiest americans. there's no possibility that we will find a way to get our fiscal house in order without those tax rates going...
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cliff now and they're calling it the fiscal cliff because they don't want to e embrace either the tax increases or spending cuts and i think it's foolish to think this congress can come up with a better deal. >> you know what's interesting, to eric's point, there is a great irony in this that the democrats are saying we've got to raise taxes and the fiscal cliff does both. just not in the way anybody wants it, so if they can't do that, how are they going to find a way they can all agree on? >> the superfailed committee. this is a giant hatchet as opposed to a scalpel. >> it was designed to fail. >> i agree, but the real solution and real irony is going to be the ultimate deal's going to look like the obama boehner grand bargain that was negotiated and almost done in the summer of 2011. the fact that we couldn't make that deal then i think's a tragedy for the country. one of the thing's it did was lead to that aaa downgrading. that was unnecessary. >> let me just follow up on this point of what republicans should accept. you said you'd go back to the clinton era tax rates if you could
cliff now and they're calling it the fiscal cliff because they don't want to e embrace either the tax increases or spending cuts and i think it's foolish to think this congress can come up with a better deal. >> you know what's interesting, to eric's point, there is a great irony in this that the democrats are saying we've got to raise taxes and the fiscal cliff does both. just not in the way anybody wants it, so if they can't do that, how are they going to find a way they can all agree...
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we're looking at what the white house is offering to stop the fiscal cliff stalemate. drastic mandatory tax hikes and spending cuts will kick in with the new year unless, unless the white house and republicans can reach a deal. for weeks, gop lawmakers have said we're just waiting for the white house to give details, specifics, some numbers. well, tonight that's happened. the white house is calling their bluff and they've laid out how they want to cut the debt. jessica yellin is over at the white house for us tonight with new developments. jessica, what are the specifics of this offer tonight? >> reporter: hi, wolf. according to senior officials on both sides of the aisle, the president is asking for $1.6 trillion in new taxes. that includes raising taxes for families who make $250,000 or more. you'll recognize that as a pledge from his campaign. and it also includes limiting deductions and loopholes as well as other changes to capital gains and dividends taxes. well, that is the headline for republicans, wolf, who say it is far more money in tax rates than they ever e
we're looking at what the white house is offering to stop the fiscal cliff stalemate. drastic mandatory tax hikes and spending cuts will kick in with the new year unless, unless the white house and republicans can reach a deal. for weeks, gop lawmakers have said we're just waiting for the white house to give details, specifics, some numbers. well, tonight that's happened. the white house is calling their bluff and they've laid out how they want to cut the debt. jessica yellin is over at the...
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cliff, not only the spending cuts and tax increases but spending cuts particularly in defense. they don't want that. >> explain why what they agree on -- namely that the middle class, 98% of all taxpayers, that their taxes will stay the same, they will not go up. if everyone agrees at least on that, the president says, go ahead and pass that. why not just eliminate the 98% who won't have any changes, those making under $250,000? why not allow that to go forward? why are the republicans resisting on that. >> it could wind up there, wolf. but if the republicans lose that, they believe they kind of lose the leverage that they have. if they sort of give on that, then where's their leverage with the white house? so i think that in the end, wolf, if i had to bet -- and i don't like to bet on these things because they always disappoint -- but i would have to say that the one thing they are all likely to do at some point is to make sure the taxes do not go up on the middle class. but in order to do that, republicans want to get some concessions for that. it seems very easy to do that.
cliff, not only the spending cuts and tax increases but spending cuts particularly in defense. they don't want that. >> explain why what they agree on -- namely that the middle class, 98% of all taxpayers, that their taxes will stay the same, they will not go up. if everyone agrees at least on that, the president says, go ahead and pass that. why not just eliminate the 98% who won't have any changes, those making under $250,000? why not allow that to go forward? why are the republicans...
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cliff or whether a deal is reached to avert that, middle class taxes are going up, and so is spending. so there's a lot of cynicism in this process. >> real quick -- >> that's why the president has the edge. >> bottom line, the republicans are poised to take a fall? is that what your numbers show you? >> they are poised to take a hit on this right now. longer term, tim pact will weigh on the obama administration if the economy doesn't recover. >> all right. many thanks, scott rasmussen, appreciate it very much. >> thanks. >>> with just 26 days until we fall off the tax and fiscal cliff, two dozen house republicans have apparently defected from the boehner plan and signed a bipartisan letter with democrats. people are now asking is there a fallback position for the gop? well, here now to tell us is house majority whip california republican kevin mccarthy, the number three man. mr. mccarthy, as always, thank you for coming back on the show. can i get your comment on this letter, two dozen republicans, they're talking about tax rate flexibility along with a bunch of democrats. what's you
cliff or whether a deal is reached to avert that, middle class taxes are going up, and so is spending. so there's a lot of cynicism in this process. >> real quick -- >> that's why the president has the edge. >> bottom line, the republicans are poised to take a fall? is that what your numbers show you? >> they are poised to take a hit on this right now. longer term, tim pact will weigh on the obama administration if the economy doesn't recover. >> all right. many...
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and the president act so-called fiscal cliff. on the senate floor today, top senate democrat, here he was, harry reid, said the republican counteroffer unveiled yesterday is a serious proposal. reid called the offer a nonstarter. his word. but a serious proposal nonetheless. in an interview just today with bloomberg tv, president obama did not reject the gop offer outright. officials have called it a step backward, not worthy of a counteroffer. but, you know, bottom line here, you have two sides they appear to be pretty far apart with no new negotiations happening at least not to our knowledge. so, with me now from capitol hill is representative peter wel welch. democrat from vermont. good to see you. thanks for coming on. >> thank you. >> so let me just pose this one to you. you just heard harry reid, would you agree with harry reid the plan offered yesterday by that house speaker is, quote unquote, a serious plan? >> well, you know, i don't know the details of it. it is $800 billion supposedly in revenues and it is a lot of med
and the president act so-called fiscal cliff. on the senate floor today, top senate democrat, here he was, harry reid, said the republican counteroffer unveiled yesterday is a serious proposal. reid called the offer a nonstarter. his word. but a serious proposal nonetheless. in an interview just today with bloomberg tv, president obama did not reject the gop offer outright. officials have called it a step backward, not worthy of a counteroffer. but, you know, bottom line here, you have two...
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the spending cuts that would be imposed by the fiscal cliff would be devastating. it would send unemployment higher. it would cost jobs. the republicans, as peter says, are going to insist on some cuts anyway, so bottom line is we are going to see a weaker economy into the beginning of next year. probably one way or the other. now, the counter to that, peter, is that there are forces in the economy that are strengthening it. this energy boom that we've got, the natural gas, the amount of fracturing that we're doing, the fact that housing has been doing tremendously well, and interest rates remain very low with prices, so there's some sense that there's a bit of a renaissance on the horizon, and if the government doesn't mess that up too much, 2013 could end up being as good as 2012 if not a little better. i don't know if you completely disagree with that, peter, but i think there's enough good going on that it could offset the bad. >> to you think it could go up to 10% unemployment. do you agree with peter on that? >> i don't know. i don't know if it will go go up
the spending cuts that would be imposed by the fiscal cliff would be devastating. it would send unemployment higher. it would cost jobs. the republicans, as peter says, are going to insist on some cuts anyway, so bottom line is we are going to see a weaker economy into the beginning of next year. probably one way or the other. now, the counter to that, peter, is that there are forces in the economy that are strengthening it. this energy boom that we've got, the natural gas, the amount of...
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this is the deal on the fiscal cliff. tax increase now, delay spending cuts, don't worry about the debt. judge napolitano: i wrote a piece this morning on the washington times and a number of venues. argues the republicans probably will cave. notwithstanding the pledge they took, just a political pledge, not legally -- i don't want them to raise taxes but they will. they should remember the peril of recent history. the last american president who said who could forget this? read my lips, no new taxes was dispatched by the voters to a hotel room in houston rather than four more years in the white house because he violated that pledge. george herbert walker bush would keep that pledge today. stuart: always a pleasure. we say it every day on "varney and company," time is money. we mean it. i especially mean it. my take on punctuality next. twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core,
this is the deal on the fiscal cliff. tax increase now, delay spending cuts, don't worry about the debt. judge napolitano: i wrote a piece this morning on the washington times and a number of venues. argues the republicans probably will cave. notwithstanding the pledge they took, just a political pledge, not legally -- i don't want them to raise taxes but they will. they should remember the peril of recent history. the last american president who said who could forget this? read my lips, no new...
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. >> we're now a month away from the so called fiscal cliff. a drastic combination of mandatory spending cuts and tax hikes that could plunge the united states back into a recession. while there are plenty of hard w0rds from both sides, some terms of a possible zeal are making the rounds. kate bolduan has been following the back and fourth. >> don't get too excited about that, there's only one way to avoid the fiscal cliff. spending cuts and tax hikes. house republicans and president obama need to strike a deal on reducing the national debt. they have soundly rejected a white house offer that included $1.6 trillion in revenue, $400 billion in medicare and other entitlement savings, as well as a permanent increase in the debt limit among other things. so far, the rhetoric has not softened. treasury secretary tim geithner arriving on capitol hill for high level talks, most notably with house speaker john boehner. >> good morning, everyone. >> how did it go? just listen. >> despite the claims that the president supports a balanced approach, the de
. >> we're now a month away from the so called fiscal cliff. a drastic combination of mandatory spending cuts and tax hikes that could plunge the united states back into a recession. while there are plenty of hard w0rds from both sides, some terms of a possible zeal are making the rounds. kate bolduan has been following the back and fourth. >> don't get too excited about that, there's only one way to avoid the fiscal cliff. spending cuts and tax hikes. house republicans and...
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so the fiscal cliff is looming. there are a the lo of people who say the republicans need to stand together and if the president isn't gog deal fairly and offer up some spending cuts and talk about entitlement reform, the republicans need to be willing to hole hands and jump off the fiscal cliff with the president. are you ready? >> we would prefer that didn't happen. there are a lot of bad outcomes. you got a lot of analysis that's been done, ernst says if we go over the fiscal cliff or raise taxes it will cost us over 700,000 jobs, reduce economic growth, lower take home pay, all those things. that's a bad scenario. the president has made it very clear, tim geithner, his treasury secretary said a couple days ago, absolutely we're ready to go over the cliff. republicans don't think that's the solution. but i do think that if he gets what he wants, he gets higher taxes, he gets defense cuts, if we go over the cliff. so i don't think there is a lot of incentive on the president's part right now to be at the table to
so the fiscal cliff is looming. there are a the lo of people who say the republicans need to stand together and if the president isn't gog deal fairly and offer up some spending cuts and talk about entitlement reform, the republicans need to be willing to hole hands and jump off the fiscal cliff with the president. are you ready? >> we would prefer that didn't happen. there are a lot of bad outcomes. you got a lot of analysis that's been done, ernst says if we go over the fiscal cliff or...
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jon: some new information now on the looming fiscal cliff negotiations. strong words from republican leadership after president obama's opening bid. the president wants $1.6 trillion in new taxes, $50 billion in new stimulus spending, and expanded powers for the president to raise the federal debt limit without getting any approval from congress. a senior house gop source calls the president's plan, quote, absurd. and provides a 6-point explanation to back it up. is the economy headed for that fiscal cliff? is all of this negotiating dead in the water? let's bring in our panel. monica crowley, radio talk show host and author of monomemo.com. jewelry roginsky former political advisor to senator frank lautenberg of new jersey. both fox news contributors. you say the president is not interested in compromise at all? >> no. i have just wrote a whole book about this called, what the bleep just happened. i traced first four years of his presidency. anytime he proposed a economic proposal or physical proposal it contained the exact same elements, which is tax hi
jon: some new information now on the looming fiscal cliff negotiations. strong words from republican leadership after president obama's opening bid. the president wants $1.6 trillion in new taxes, $50 billion in new stimulus spending, and expanded powers for the president to raise the federal debt limit without getting any approval from congress. a senior house gop source calls the president's plan, quote, absurd. and provides a 6-point explanation to back it up. is the economy headed for that...
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cliff. they are going nowhere fast. democrats, they're basically telling republicans, hey, ball's in your court. we'll take you live to the white house for that. also, as the city grieves over an nfl player's tragic breaking point, new debates today about gun control and domestic violence. you'll hear both. but first, the u.s. has long believed syria has a huge stockpile of chemical weapons. now new concerns that chemical arsenal is on the move. secretary of state hillary clinton today issuing another stern warning against syria, using these weapons. the syrian foreign ministry quick to respond here saying it would not use chemical weapons against its people if it had any, but this announcement as turkey is sending warplanes to its border with syria after the syrian military bombed a nearby town of ras al-ain. you can hear that and see the smoke. this is the turkish side of the border. this is fueling more fears that more of syria's violence will spill into its neighbor to the north, being t
cliff. they are going nowhere fast. democrats, they're basically telling republicans, hey, ball's in your court. we'll take you live to the white house for that. also, as the city grieves over an nfl player's tragic breaking point, new debates today about gun control and domestic violence. you'll hear both. but first, the u.s. has long believed syria has a huge stockpile of chemical weapons. now new concerns that chemical arsenal is on the move. secretary of state hillary clinton today issuing...
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washington, the potential fiscal cliff is expected to bring tax hikes and spending cuts it all americans, and what is really at stake when it comes to your home? and we're going to take a look at what could happen if lawmakers and the white house don't reach an agreement very soon. >> kelly: indeed, we will. plus, a man counting his blessings after coming face-to-face with a shark. . >> you know, you've got to look at this at like the emt told me on the way here, you could have had this or struck by lightning and the odds are about the same. [ male announcer ] alka-seltzer plus presents the cold truth. i have a cold, and i took nyquil, but i'm still "stubbed" up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] it doesn't have a decongestant. no way. [ male announcer ] sorry. alka-seltzer plus fights your worst cold symptoms plus has a fast acting decongestant to relieve your stuffy nose. [ sighs ] thanks! [ malennouncer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh what a relief it is! ♪ [ male announcer ]
washington, the potential fiscal cliff is expected to bring tax hikes and spending cuts it all americans, and what is really at stake when it comes to your home? and we're going to take a look at what could happen if lawmakers and the white house don't reach an agreement very soon. >> kelly: indeed, we will. plus, a man counting his blessings after coming face-to-face with a shark. . >> you know, you've got to look at this at like the emt told me on the way here, you could have had...
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the reason we find ourselves about to go off the fiscal cliff with the automatic spending cuts, in part is because back in 2011, they wanted to raise the debt ceiling and the republicans said you cannot do it unless we do spending cuts. we cannot just do deficit spending. so they agree, they cut this deal, now the democrats are going to the republicans and saying, forget that. let's just in the position to get rid of it. what on earth would make them think that republicans would agree to that? >> because the president thinks he has a mandate from the whole country. he thinks he can get anything he wants. i am sure that alan colmes loves this idea. here are the problems. the congress has the authority to authorize the debt. they also have the authority to authorize the bill that pays the debt. so now the president wants to take that away. this guy has shown a tendency to say that i don't need congress. i can pass laws with a stroke of a pen on executive orders. he doesn't need the supreme court because he declares laws unconstitutional, like doma. he says he wants an unlimited credit car
the reason we find ourselves about to go off the fiscal cliff with the automatic spending cuts, in part is because back in 2011, they wanted to raise the debt ceiling and the republicans said you cannot do it unless we do spending cuts. we cannot just do deficit spending. so they agree, they cut this deal, now the democrats are going to the republicans and saying, forget that. let's just in the position to get rid of it. what on earth would make them think that republicans would agree to that?...
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a economy goes over the fiscal cliff. economists surveyed said one and a half million americans could lose their jobs if lawmakers fail to come to an agreement and the automatic spending cut impact increases. forces are keeping an eye on some debts for a budget bill. the nasdaq gained due to a rebound by apple. the number was triggered by reports that it would lose shares to its rival google. apple is trying to regain market share from samsung. the to tech companies are back in court today to get it out over a $1 billion patent fight. meantime nationwide insurance is warning customers that its computers networked had been attacked. customers' names birth dates social skirted numbers and driver's license numbers were likely stolen. nationwide is apologizing and are offering customers an identity that protection for one year. start planning did vacations, walt disney new fantasyland is officially open. this is after what may be the biggest expansion in the orlando parts 41 year history. the estimated $300 million magic king
a economy goes over the fiscal cliff. economists surveyed said one and a half million americans could lose their jobs if lawmakers fail to come to an agreement and the automatic spending cut impact increases. forces are keeping an eye on some debts for a budget bill. the nasdaq gained due to a rebound by apple. the number was triggered by reports that it would lose shares to its rival google. apple is trying to regain market share from samsung. the to tech companies are back in court today to...
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this is not the whole fiscal cliff but just the sequester. $1.2 trillion of mandatory spending cuts over ten years and scheduled for january 2nd. half of that money cut in defense. half in everything else. next year alone could take $65 billion out of spending and a million jobs versus growing 2 million which is what the u.s. is on track to do now. i fully understand the government needs to spend less and spend more efficiently but how you achieve it is as important as how much you cut and the sledge hammer approach is not economically sound. now, there are targeted and measured ways to do it without driving the country in to another recession. some debate today as to whether we're in one or not but the sequester will only make things worse. congress, solve it. solve it nowme. we're all watching. housing is hot. if you have credit and money for a down payment, the perfect time to buy. nationally, affordability is the best it's been in a long time. new york city is the least affordable place in america to purchase a home. no big surprise here. home prices in new york are nearly two and a
this is not the whole fiscal cliff but just the sequester. $1.2 trillion of mandatory spending cuts over ten years and scheduled for january 2nd. half of that money cut in defense. half in everything else. next year alone could take $65 billion out of spending and a million jobs versus growing 2 million which is what the u.s. is on track to do now. i fully understand the government needs to spend less and spend more efficiently but how you achieve it is as important as how much you cut and the...
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it's 30 days and counting until we go over the fiscal cliff. >> the president is demanding higher tax rates. congressional republicans want deeper spending cuts and entitlement reform. will they make a deal before we bring in the new year with a round of tax increases for all of us? we will ask the two men at the center of the negotiations where we really stand. for the president, treasury secretary timothy geithner. for the gop house speaker john boehner. geithner and boehner only on fox news sunday. plus, we've seen this movie before. the two parties edging closer and closer to the brink. we will ask our sunday panel whether we will get a happy ending or an economic disaster. and our power player of the week. a young beauty queen has to make a tough choice. all right now on fox news sunday. >> hello again from fox news in washington. well, we had quite a day around here friday with talks to avoid the fiscal cliff deadlock, and everyone saying the other side is to blame, pressure secretary geithner scheduled a ground of interviews. then friday afternoon, speaker boehner's office call
it's 30 days and counting until we go over the fiscal cliff. >> the president is demanding higher tax rates. congressional republicans want deeper spending cuts and entitlement reform. will they make a deal before we bring in the new year with a round of tax increases for all of us? we will ask the two men at the center of the negotiations where we really stand. for the president, treasury secretary timothy geithner. for the gop house speaker john boehner. geithner and boehner only on fox...
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cliff balance. >> that's right. they say he is focused as you heard in that sound bite about taxes and that part of it. they are not hearing a lot about spending cuts which republicans obviously think is the big driver of the debt issue. when the president is now demanding that raising the nation's debt ceiling combined in this deal. what republicans like mitch mcconnell think is going on the president just wants to spend more money. listen. >> what the president is really interested in as we learned just yesterday, is getting as much taxpayer money as he can first by raising taxes on small business that he believes are making too much money and then on everybody else. not so he can lower the debt or the deficit but so he can spend to his heart's content. as a result some democrats have pushed the president to just raise the nation's debt ceiling on his own. they believe he has that executive power by invoking the 14th amendment of the constitution. but jay jay cancer carney the white house spokesman has studied tha
cliff balance. >> that's right. they say he is focused as you heard in that sound bite about taxes and that part of it. they are not hearing a lot about spending cuts which republicans obviously think is the big driver of the debt issue. when the president is now demanding that raising the nation's debt ceiling combined in this deal. what republicans like mitch mcconnell think is going on the president just wants to spend more money. listen. >> what the president is really...
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online we have a report from our partners at kaiser health news on how the fiscal cliff could affect health care for the military and for medicare patients. >> brown: next, a potential crisis of a different kind, one that has new urgency after hurricane sandy and that also involves federal spending: rising sea levels. today, new york city mayor michael bloomberg announced a new long-term initiative to protect the city from future natural disasters. he called for rebuilding vulnerable coastal areas, but dismissed again the idea of constructing a large sea-gate across the harbor. >> we're not going to abandon the waterfront. we're not going to abandon the rockaways or coney island or staten island's south shore. but we can't just rebuild what was there and hope for the best. we have to build smarter and stronger and more sustainably. >> woodruff: 350 miles south. the city of norfolk, virginia, is another coastal city vulnerable to sea level rise and extreme storms. but its mayor has said parts of his city might not be livable in the future. our producer, mike melia, traveled to norfolk
online we have a report from our partners at kaiser health news on how the fiscal cliff could affect health care for the military and for medicare patients. >> brown: next, a potential crisis of a different kind, one that has new urgency after hurricane sandy and that also involves federal spending: rising sea levels. today, new york city mayor michael bloomberg announced a new long-term initiative to protect the city from future natural disasters. he called for rebuilding vulnerable...
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on a new ad campaign to push for a fiscal cliff deal that includes more spending cuts and fewer higher taxes. >> so far he says more taxes. >> the truth is the white house deal did propose some $600 billion in healthcare and spending cuts. finally, secretary of state ken says he will investigate the state's voting problems. the republican in florida told the state ethics and elections committee he will dispatch a special team to investigate the five florida counties that had especially-long lines. right after it he defended florida's voting mess saying he had no regrets. wewewewewewewewewewewewewewewewewewewewewewewewewewewewewewe on to me now? you know the the kind of guys that do reverse mortgage commercials? those type. those types are coming on to me all the time now. >>> she get's the comedians laughing... >>>that hilarious. >>>and the thinkers thinking. joy>>>okay so. there's wiggle room in the ten commandments is what you're telling me? >>she's joy behar. joy>>>and the best part is that current will let me say anything. what the hell were they thinking? >>>> only on current tv.
on a new ad campaign to push for a fiscal cliff deal that includes more spending cuts and fewer higher taxes. >> so far he says more taxes. >> the truth is the white house deal did propose some $600 billion in healthcare and spending cuts. finally, secretary of state ken says he will investigate the state's voting problems. the republican in florida told the state ethics and elections committee he will dispatch a special team to investigate the five florida counties that had...
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lori: republicans presenting a plan to avoid the fiscal cliff. first and foremost, avoiding increasing and eliminating deductions on of her earnings to raise an additional $8 billion. $1.2 trillion in new spending cuts. the white house, no surprise, already rejecting the plan. the president saying the gop plan is out of bounds because it does not include higher taxes on the wealthy. we are joined now by a chief economist. why does it seem the only solution to be satisfied with is to raise taxes on the wealthy? >> they clearly staked out this position during the campaign. they feel they have a mandate for it. i am sort of skeptical. the sticking point is the tax rate question on the wealthy. however, with that said, progress has been made in the sense that the republicans are not willing to raise taxes, not rates, on the rich. democrats are saying they are more open to entitlement cuts, if you will, reform, whatever you want to call it. they are making progress. [talking over each other] the question is: you know, how far are both sides willing to
lori: republicans presenting a plan to avoid the fiscal cliff. first and foremost, avoiding increasing and eliminating deductions on of her earnings to raise an additional $8 billion. $1.2 trillion in new spending cuts. the white house, no surprise, already rejecting the plan. the president saying the gop plan is out of bounds because it does not include higher taxes on the wealthy. we are joined now by a chief economist. why does it seem the only solution to be satisfied with is to raise taxes...
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but if there's no deal and the country goes over that fiscal cliff, taxes go up for everyone, mandatory spending cuts go into effect, a lot of folks are going to say where was the president? he was just re-elected. why couldn't he put together a package, a deal to avoid this disaster? >> i think this is a question of political leadership. and as that poll showed, there's no doubt that the president has the political advantage going into this. but at some point, and i think we're kind of getting close to it, the president has to be able to pivot and to say how do i turn this political advantage into a real policy accomplishment? and, wolf, i don't think you're going to do that with continued campaign style events like we just saw meeting with middle class families. okay. we get that. that occurred during the campaign. the white house has clearly gotten its message out. i think now there has to be a next step. you know, timing is everything in politics. and this is absolutely no different. what i'm getting from talking to some democrats on the hill is i think there's actually a lot of pen
but if there's no deal and the country goes over that fiscal cliff, taxes go up for everyone, mandatory spending cuts go into effect, a lot of folks are going to say where was the president? he was just re-elected. why couldn't he put together a package, a deal to avoid this disaster? >> i think this is a question of political leadership. and as that poll showed, there's no doubt that the president has the political advantage going into this. but at some point, and i think we're kind of...
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that's your idea -- >> mike -- >> away from a fiscal cliff? >> congresswoman, i am a financial illiterate, can you explain to me how you have all encompassing tax reform without taking a look at tax rates? >> well, we have. we believe that we need tax reform. we'd like to look at tax rates, we'd like to look at the loopholes, the tax credits. we want a simpler, less costly tax code for america. that's important for middle class families, important for our economy. that is what's going to help get this economy growing again. but we also -- it also republicans believe it has to include the spending. and the way congress has operated in the past, you know, yeah, we'll increase revenue, but then there's never the protections, never the tough decisions to actually cut the spending, reduce the debt, and that has to be a part of this one. >> fair enough. arianna? >> congresswoman, in your thanksgiving message, twice you emphasize the need for jobs, the need for growth, and then you mentioned the deficit. what do you think we should be doing right now
that's your idea -- >> mike -- >> away from a fiscal cliff? >> congresswoman, i am a financial illiterate, can you explain to me how you have all encompassing tax reform without taking a look at tax rates? >> well, we have. we believe that we need tax reform. we'd like to look at tax rates, we'd like to look at the loopholes, the tax credits. we want a simpler, less costly tax code for america. that's important for middle class families, important for our economy. that...
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the fiscal cliff? >> listen, there's a framework that we presented to the white house two weeks ago. the framework is -- has been agreed to in terms of really a down payment on the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year, and tax reform next year. but this was way out of balance. and not a recognition on the part of the white house about the serious spending problem that we have. [ inaudible question ] going over the fiscal cliff, you called serious business, extending the lower tax rates -- [ inaudible question ] >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal cliff. >> which is worse for the economy? [ inaudible question ] could you include a debt limit that is in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag a
the fiscal cliff? >> listen, there's a framework that we presented to the white house two weeks ago. the framework is -- has been agreed to in terms of really a down payment on the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year, and tax reform next year. but this was way out of balance. and not a recognition on the part of the white house about the serious spending problem that we have. [ inaudible...
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tonight on "special report," republicans are calling president obama's offer to get off the fiscal cliff ludicrous and absurd. they are insisting on spending cuts. president held a campaign rally, toy factory in pennsylvania. she characterizing the opposition as a handful of republicans who want to hold middle class tax cuts hostage. what happens if a deal does not get done in time? we'll look at what sequestration really means. it appears susan rice had access to the president's daily brief before she made her misleading statement about the cause of the september 11 attacks. now back to my colleagues at "the five." ♪ ♪ >> brian: this is a senior and has autism and other development issues and a t place kicker, which is extraordinary. having a rough season. but anthony led the team to upset victory. here is how it sounded. [ cheering ] >> brian: this game-winning field goal is a hit on youtube ever since. what is amazing, this kid loves rutgers. he used to sit in the stands. developmentally around 12 years old. going to high school and beloved by everybody. sitting in the stands watc
tonight on "special report," republicans are calling president obama's offer to get off the fiscal cliff ludicrous and absurd. they are insisting on spending cuts. president held a campaign rally, toy factory in pennsylvania. she characterizing the opposition as a handful of republicans who want to hold middle class tax cuts hostage. what happens if a deal does not get done in time? we'll look at what sequestration really means. it appears susan rice had access to the president's...
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getting past the fiscal cliff is an imperative. we are having a one-sided conversation. the republicans have put out a plan saying raise revenue from reach people, banseed, spending cuts, and that landed with a thud over in the white house, no response, and the president has yet to put out a balanced plan, and what we got is i want $1.6 trillion in tax revenue. give it to me. gerri: and rid of the debt ceiling. >> we've seen this movie before. no ceiling, give me the revenue, i'll spend it. now what? until cuts are in place, this doesn't make sense. gerri: i want to hear what ann coulter said about the debate. >> don't cave on everything, but republicans feed into what the media is telling america -- >> wait a minute, i want to understand. you are saying then for pr purposes, they should give into obama on the tax rate. >> not exactly. well, yeah, i guess i am -- >> you're saying obama, who is -- we don't have a revenue problem, ann. >> we lost the election, sean. gerri: what do you think of this? as a strategy, maybe it's the right thing? acknowledge that the american p
getting past the fiscal cliff is an imperative. we are having a one-sided conversation. the republicans have put out a plan saying raise revenue from reach people, banseed, spending cuts, and that landed with a thud over in the white house, no response, and the president has yet to put out a balanced plan, and what we got is i want $1.6 trillion in tax revenue. give it to me. gerri: and rid of the debt ceiling. >> we've seen this movie before. no ceiling, give me the revenue, i'll spend...
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well, the whole fiscal cliff fight is supposed to be about cutting our ballooning debts. so why is the president not proposing a quarter trillion dollars in new spending? the question is also up next. plus, lindsey graham not missing words about the possibility of closing this prison camp and moving the prisoners here is michelle malcolm joins me live to discuss why he might not get his wish. and a desperate search effort. see why the young girl's mother is the prime suspect in removing her from the hospital. >> we were seeing them by the front entrance. and they walked into the bathroom. they disconnected her from her id and just walked up the front door and got into the car. [ male announcer ] if you're eligible for medicare, now is a good time to think about your options. are you looking for a plan that really meets your needs and your budget? as you probably know, medicare only covers about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standard
well, the whole fiscal cliff fight is supposed to be about cutting our ballooning debts. so why is the president not proposing a quarter trillion dollars in new spending? the question is also up next. plus, lindsey graham not missing words about the possibility of closing this prison camp and moving the prisoners here is michelle malcolm joins me live to discuss why he might not get his wish. and a desperate search effort. see why the young girl's mother is the prime suspect in removing her...
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the deal is to avoid a series of tax increases, and spending cuts that many believe would be a fiscal cliff that would kick in on january the 1st. chief congressional correspondent mike emanuel is watching it all unfold on capitol hill. what do we know about the visit about the expectations for what might happen during it. >> reporter: martha, timothy geithner arrived here on capitol hill a short time ago to meet first with senate majority leader harry reid. we know he's having individual meetings with the top four leaders of congress. what republicans have said they want to hear, and republicans will be critical, because they need republican support to get any final fiscal cliff deal through the senate, and also through the house, they say they hope that he's coming with concrete spending cut ideas that are acceptable to the administration. one of the meetings today will be with senate republican leader mitch mcconnell who a short time ago sounded pretty fired up. >> the only reason democrats are insisting on raising rates is because raising rates on the so-called rich is the holy gr
the deal is to avoid a series of tax increases, and spending cuts that many believe would be a fiscal cliff that would kick in on january the 1st. chief congressional correspondent mike emanuel is watching it all unfold on capitol hill. what do we know about the visit about the expectations for what might happen during it. >> reporter: martha, timothy geithner arrived here on capitol hill a short time ago to meet first with senate majority leader harry reid. we know he's having individual...
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. >>> well, there's a lot of finger-pointing on capitol hill as the fiscal cliff looms now just 32 days away. house speaker john boehner says no progress has been made in two weeks of talks, and republicans want the white house to come up with significant spending cuts. senate democratic leader harry reid responded to boehner saying, quote, i don't understand his brain, unquote. >>> when those talks over the fiscal cliff seem to be heading towards a stalemate but do the capitol hill theatrics tell the whole story? here's thousand politico summed it up, listen to top democrats and republicans talk on camera and it sounds like they could not be further apart. but behind the scenes top officials who have been involved in the talks for many months say the contours of the deal are starting to take shape. well, joining me are jason johnson a political professor, t and a republican strategist ron bonjene, ron, let's start with you, both sides know they'll have to make a deal. one congressman says to get it there has to look like this was fighting this way it's kind of like managing the public'
. >>> well, there's a lot of finger-pointing on capitol hill as the fiscal cliff looms now just 32 days away. house speaker john boehner says no progress has been made in two weeks of talks, and republicans want the white house to come up with significant spending cuts. senate democratic leader harry reid responded to boehner saying, quote, i don't understand his brain, unquote. >>> when those talks over the fiscal cliff seem to be heading towards a stalemate but do the...
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next on the rundown the president's offer to avoid going over the fiscal cliff tax and spend. what about any kind of cuts? we're live in washington coming up next. >> brian: so disappointing. then the circus is overment big update in the story of zebra and his pony pal who ran through the streets of new york city. >> gretchen: do you know what happened? >> brian: i do know what happened. and it's got me well n a tizzy. >> gretchen: really? >> brian: yes [ male announcer ] this december, remember -- you can stay in and share something... or you can get out there and actually share something. ♪ ♪ the lexus december to remember sales event is on. this is the pursuit of perfection. it's my favorite time of year again and now -- i got a great new way to get deals. it's called bankamerideals, from bank of america. i choose the cash back deals in my mobile or online banking. i just use my bank of america debit or credit card when i pay. and i get as much as 15% cash back -- put into my account. this is on top of other rewards and discounts i already get. best of all -- it's free.
next on the rundown the president's offer to avoid going over the fiscal cliff tax and spend. what about any kind of cuts? we're live in washington coming up next. >> brian: so disappointing. then the circus is overment big update in the story of zebra and his pony pal who ran through the streets of new york city. >> gretchen: do you know what happened? >> brian: i do know what happened. and it's got me well n a tizzy. >> gretchen: really? >> brian: yes [ male...
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the big battle over the fiscal cliff getting increasingly contentious. as we know, time is running out. just 27 days to go until more than $500 billion in automatic spending cuts and tax hikes actually kick in. now, the president, he is standing firm saying there's not going to be a deal medicals taxes for the wealthiest americans go up. the president is offering $400 billion in cuts from entitlements, but he also wants to spend $50 billion more on infrastructure. go to house speaker john boehner. he is offering $800 billion in increased revenue. he also wants much deeper cuts in entitlements and $800 billion in other cuts many spending. we've got reporters -- i want to start off with you. dana bash on the hill. a standoff here, republicans essentially saying, look, the president is not being reasonable here, and then you have the white house saying this is magic beans and fairy dust. is this a lot of posturing here? are we really at an impasse? >> yes to both of those questions. there is a lot of post urg, but we do seem to be at an impasse. i want to s
the big battle over the fiscal cliff getting increasingly contentious. as we know, time is running out. just 27 days to go until more than $500 billion in automatic spending cuts and tax hikes actually kick in. now, the president, he is standing firm saying there's not going to be a deal medicals taxes for the wealthiest americans go up. the president is offering $400 billion in cuts from entitlements, but he also wants to spend $50 billion more on infrastructure. go to house speaker john...
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always there. >>> we're only 33 days away from the so-called fiscal cliff. a drastic combination of mandatory spending cuts, tax hikes that could plunge the u.s. back into a recession. >> and there's only one way to avoid it. house republicans and president obama and his fellow democrats need to strike a deal before the end of the year on reducing the national debt to avoid that fiscal cliff. republican aid describe the tentative white house proposal this way. $1.6 trillion in revenue presented by secretary treasury secretary timothy geithner and stimulus and $400 billion in medicare and other entitlement savings. a permanent increase in the debt limit. >> so, let's get more on the standoff right now. joining us senator bernie sanders of vermont. he caucuses with the democrats. senator, first of all, congratulations on your re-election. thanks for coming in. republicans say, you know what, they'll be flexible, but the democrats have to be flexible, too, especially when it comes to entitlement spending. medicare, medicaid and even reform. are you open to any
always there. >>> we're only 33 days away from the so-called fiscal cliff. a drastic combination of mandatory spending cuts, tax hikes that could plunge the u.s. back into a recession. >> and there's only one way to avoid it. house republicans and president obama and his fellow democrats need to strike a deal before the end of the year on reducing the national debt to avoid that fiscal cliff. republican aid describe the tentative white house proposal this way. $1.6 trillion in...
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cliff which is called the series of spending cuts and expiring tax breaks which would be an economic disaster. the sticking point is the call for higher taxes for families, higher taxes on amounts earned above $250,000. everyone gets the tax cut, the first $250,000 is not taxable only but that. the president says, look, i ran on this and i am going to do this. but he is signaling he could be flexible on how high they would go. ed henry is like. this has been out there for a few days. >>reporter: that right. the president had the governors in today and they underdiscover the fiscal cliff will not just impact the national economy but have a lot of impact on state and local economies, as well, and their state budgets, et cetera. the president, though, is standing firm. and jake carney saying unless the republicans give in on tax rates and raise the bush tax rates on the rich, there is no deal and the president is willing to go off the cliff. they hammered speaker boehner's proposal. >> we don't know who pays. we don't know what we are talking about in terms actual legislation to increas
cliff which is called the series of spending cuts and expiring tax breaks which would be an economic disaster. the sticking point is the call for higher taxes for families, higher taxes on amounts earned above $250,000. everyone gets the tax cut, the first $250,000 is not taxable only but that. the president says, look, i ran on this and i am going to do this. but he is signaling he could be flexible on how high they would go. ed henry is like. this has been out there for a few days....
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problem number one is the fiscal cliff and threat of recession. raising any more taxes doesn't make any sense. this is politics trumping economic sense. second problem is fixing the debt and there's this debate about how much revenue, how much spending. balance means heavy on spending lighter on taxes and bowles-simpson told us the route to do that is tax reform. >> much more fun by the way to have 4% or 5% growth than to equitable about 1% or 2% growth. thank you gentlemen. we appreciate it. now to another controversy. are minorities especially latinos a lost cause for republicans and conservative principles? i say no, but our next guest star parker may just disagree. we'll have a little discuss. folks don't forget free market capitalism is the best true to prosperity. it's true for lower tax and lower spending. i'm kudlow. we'll be right back. >>> the republican party will never win another presidential election in my lifetime unless it broadens its base especially with latino and asian immigrants. so what's the best way to pull this off? now wr
problem number one is the fiscal cliff and threat of recession. raising any more taxes doesn't make any sense. this is politics trumping economic sense. second problem is fixing the debt and there's this debate about how much revenue, how much spending. balance means heavy on spending lighter on taxes and bowles-simpson told us the route to do that is tax reform. >> much more fun by the way to have 4% or 5% growth than to equitable about 1% or 2% growth. thank you gentlemen. we appreciate...
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not they're going to come close to coming to some sort of agreement on the fiscal cliff. we can't increase spending. we are trying to rein it in and i am not that worried. there are distributional effects. lot of the lower end retailers, dollars or, drug stores have been big beneficiaries on extended unemployment benefits and their business will likely slow. cheryl: let me ask you something. you brought up the issue of the amount of retail dobbs but those are low-wage jobs. i assume the market does not want to see that. nice to see jobs added but not the right type of jobs. >> that is right. 50% of the jobs that were part of today's report of the low-income variety jobs. hospitality, leisure, retail, temporary jobs. we don't want to see that on wall street. we want to see the high-wage jobs because those are the jobs that will sustain a growing economy. they will be able to buy big-ticket items such as cars, a house, durable-goods. that is what you need to really grow this economy and right now we haven't heard any strategy of washington. all we're hearing about are extra
not they're going to come close to coming to some sort of agreement on the fiscal cliff. we can't increase spending. we are trying to rein it in and i am not that worried. there are distributional effects. lot of the lower end retailers, dollars or, drug stores have been big beneficiaries on extended unemployment benefits and their business will likely slow. cheryl: let me ask you something. you brought up the issue of the amount of retail dobbs but those are low-wage jobs. i assume the market...
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Dec 7, 2012
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that's part of the reason we want to avoid the fiscal cliff. it's actually too much deficit reduck sln too quickly in the wrong parts of the budget. you want a more thoughtful, thought out plan. on your point about the debt ceiling, we what we need is to have certainty, know where we're headed. not have multiple showdowns but the debt ceiling is only going to be increased significantly if it goes hand in hand with a big enough deal which has real changes in the budget. so the best thing we could do is put in place a balanced plan deals with all parts of the budget and really provides the kind of sense of security that households, small businesses, everybody needs to know so we can start planning for the economy and hopefully getting things growing back again. one of the things you see is that when your debt levels are as high as they are, in this country right now, that's a tamp on economic growth and can harm growth. that's the point we're at. we know that part of a growth strategy will have to be getting control of these deficits and debt and
that's part of the reason we want to avoid the fiscal cliff. it's actually too much deficit reduck sln too quickly in the wrong parts of the budget. you want a more thoughtful, thought out plan. on your point about the debt ceiling, we what we need is to have certainty, know where we're headed. not have multiple showdowns but the debt ceiling is only going to be increased significantly if it goes hand in hand with a big enough deal which has real changes in the budget. so the best thing we...
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cliff instead of engaging in serious talks to avert the cliff, that includes spending cuts and tax reforms the president once supported. the white house has only offered a joke. i understand we have speaker boehner to the microphones. let's take a listen. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. eight days ago secretary geithner came here to offer a plan that had twice the tax hikes that the president campaigned on. it had more stimulus spending than it had in cuts. and an indefinite, infinite increase on the debt limit, like forever. four days ago we offered a serious proposal, based on testimony of president clinton's former chief of staff. since then, there's been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow-walk our economy right to the edge of the cliff. instead of cutting spending, the president want to raise tax rates. but even if the president got the tax rate hike that he wanted, understand that we would continue
cliff instead of engaging in serious talks to avert the cliff, that includes spending cuts and tax reforms the president once supported. the white house has only offered a joke. i understand we have speaker boehner to the microphones. let's take a listen. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. eight days ago secretary geithner came here to offer a plan that had twice the tax hikes that the...
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Nov 30, 2012
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fedex office. >>> today's top story, markets and the fiscal cliff. stocks swing on nearly every comment coming out of washington. the american american consumer still -- she still exists. a key read on income and spending due before the bell. and in europe, an important vote, yep, we're still worried about this in germany to green light another greek bailout. it's friday, november 30th. i think that's the last day of the month. 2012. "squawk box" -- yep. "squawk box" begins right now.
fedex office. >>> today's top story, markets and the fiscal cliff. stocks swing on nearly every comment coming out of washington. the american american consumer still -- she still exists. a key read on income and spending due before the bell. and in europe, an important vote, yep, we're still worried about this in germany to green light another greek bailout. it's friday, november 30th. i think that's the last day of the month. 2012. "squawk box" -- yep. "squawk...
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cliff. take a listen. >> everybody's taxes are scheduled to go up. and unless we fix that, paradoxically president obama becomes the defender of the bush tax cut for 98% of the people and he is he no such thing. >> bottom line is both sides are still laying out the same ideas they have been doing for weeks now. today irskin bowls one of the key budget experts says he believes there is a two thirds chance that he wool go off the fiscal cliff. that's not too optimistic tonight, shep. >> shepard: not at all. ed henry live on the north lawn. the president is sending one of his top negotiators to capitol hill tomorrow to meet with congressional leaders from both parties. mike emanuel is live for that part. is he live on the hill tonight. what's the latest on the talks. >> there is always hope for tomorrow that's when treasury secretary tim geithner come up here to capitol hill to have individual meetings with the top four lawmakers. one of them nancy pelosi, the house democratic leader who was as
cliff. take a listen. >> everybody's taxes are scheduled to go up. and unless we fix that, paradoxically president obama becomes the defender of the bush tax cut for 98% of the people and he is he no such thing. >> bottom line is both sides are still laying out the same ideas they have been doing for weeks now. today irskin bowls one of the key budget experts says he believes there is a two thirds chance that he wool go off the fiscal cliff. that's not too optimistic tonight, shep....
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Dec 7, 2012
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cliff and he's clearly not interested at all in cutting any spending. >> reporter: but behind all the public posturing, there is still contact between the president's office and the speaker's people. and between the two men themselves. but everyone else is out of the loop. and there is some confidence, at least here at the white house, that they can find a solution. norah, charlie? >> bill plante, thanks. >>> november jobs report is out. rebecca jarvis is here. good morning. what do the numbers tell us? >> things are looking a lot better than we were anticipating. 146,000 new jobs created in the month of november. unemployment rate dips to 7.7% and there's two big reasons to why the report came out better than most people were expecting. first of all, the impact from superstorm sandy. it wasn't there. that's what the bureau of labor sta stisks told us. we thought it might have a significant impact. it didn't. second of all, a number of people gave up on looking for work. that's why you see the significant decline in the unemployment rate. >> where were the jobs gained? >> primarily re
cliff and he's clearly not interested at all in cutting any spending. >> reporter: but behind all the public posturing, there is still contact between the president's office and the speaker's people. and between the two men themselves. but everyone else is out of the loop. and there is some confidence, at least here at the white house, that they can find a solution. norah, charlie? >> bill plante, thanks. >>> november jobs report is out. rebecca jarvis is here. good...
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cliff talks. kayla is live with that. >> reporter: a little bit of movement potentially. president obama and house speaker john boehner spoke by phone yesterday as democrats and republicans continue to dig their heels in over this budget standoff. there's been no announcement of any new face the face talks as lawmakers try to reach a deal to avoid the so called fiscal cliff in january. treasury secretary tim geithner tells cnbc republicans have made a little progress, but the obama administration is "absolutely ready to go over the cliff if the gop doesn't agree to raise tax rates on wealthy americans." apple has lost a bit of its shine. the tech giant stock suffering its worst day in four years on thursday. several factors may have been at play. investors worried apple may be giving up ground in the tablet market to rivals, while nokia beat the company to the punch. there are also unconfirmed reports a stock clearinghouse firm is reducing the margin requirements on apple stock. apple lost $35 bil
cliff talks. kayla is live with that. >> reporter: a little bit of movement potentially. president obama and house speaker john boehner spoke by phone yesterday as democrats and republicans continue to dig their heels in over this budget standoff. there's been no announcement of any new face the face talks as lawmakers try to reach a deal to avoid the so called fiscal cliff in january. treasury secretary tim geithner tells cnbc republicans have made a little progress, but the obama...